Critical illness claim & effect on tax credits.

carebear13

Hi, we have put in a claim with our insurer and hopefully they will payout. Do we have to declare it to tax credits or just the interest or even not at all?? we are planning on clearing some debts to make day to day living expenses a bit cheaper so i can take extra time off with our daughter, so there wont be an awful lot left and possibly put some aside so we can treat her to disneyland paris when she is better
Thanks,x

Horseunderwater

Under current tax credit rules any capital does not need to be declared to HMRC. All they are interested in is any other income over £300, whether that be interest a pension or rental from property owned. Sincerely hope that they do pay out.

carebear13

Thank you. So do i. Tbh dont know how they would be able to refuse. She been covered since birth as part of our policy but you never know!